Cantourage Group SE Expands Revenues Following Partial Cannabis Legalization

Cantourage Group SE, a key player in European cannabis production and distribution, has reported a significant revenue increase for April 2024. Following the partial legalization of cannabis, the company's revenue surged approximately 160% compared to April 2023. Despite initial growth in the first quarter being below expectations, with a 26% increase year-over-year, overall growth for 2024 remains promising.

The newly implemented "Cannabis Act" has been pivotal in driving demand, particularly within the medical sector, as cannabis is no longer classified as a narcotic. This regulatory change is expected to simplify the prescription and dispensing processes, potentially boosting Cantourage's market position throughout 2024.

While future trends are uncertain, Cantourage anticipates significant benefits from the evolving legal landscape, expecting sustained revenue growth throughout the financial year. The published figures are based on an unaudited pro forma consolidation of the company's operating subsidiaries.